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Hikma Still Sees Value In Generic Advair Despite Teva’s US Approval

CEO Predicts Launch From Teva Later This Year; Also Comments On Vascepa Competition

Executive Summary

Hikma expects healthy prospects for its US Advair generic in 2022, despite rival Teva recently receiving FDA approval for its own version. Meanwhile, Hikma CEO Siggi Olafsson also outlined expectations for generic competition on icosapent amid ongoing API shortages.

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Hikma Eyes Return To Growth After Further Cutting Generics Forecasts

Hikma has once again downgraded its expectations for its generics business in 2022 as it revealed a first-half drop of 18% in sales for the unit. However, injectables and branded increases helped to offset the decline, while the company maintained that generics growth was on the horizon in 2023.

Hikma Searches For New CEO As Olafsson Resigns

Hikma is looking for a new CEO after announcing that chief executive Siggi Olafsson will be leaving the company “to pursue other opportunities” on 24 June. In the meantime, executive chairman and former CEO Said Darwazah will take on his leadership responsibilities.

Hikma Warns Of Renewed Pricing Pressure On US Generics

Hikma has warned of renewed pressure on generics in the US after a “gradual worsening of the pricing environment” in 2021. However, the company still managed to achieve growth of a tenth in its generics segment last year, on the back of key launches.

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